Did you know Excel isn't just for numbers?

You can do some awesome stuff with 𝙒𝙊𝙍𝘿𝙎 too...


Take a look at the picture at the top of this post.


It's an "Assumptions Page" from one of my financial models.


Now —


We know numbers in Excel models change all the time.


So —


Does that mean I spend 30+ minutes at the end of every new version updating my assumptions?


(...and definitely making a mistake)


No.


𝙄 𝙗𝙪𝙞𝙡𝙙 𝙩𝙝𝙚𝙢 𝙬𝙞𝙩𝙝 𝙛𝙤𝙧𝙢𝙪𝙡𝙖𝙨.


Check this out —


You use a combo of:

▪️ "" (quotes)

▪️ & (ampersand)

▪️ the TEXT() function


𝗜'𝗹𝗹 𝘀𝗵𝗼𝘄 𝘆𝗼𝘂 𝗵𝗼𝘄 𝗜 𝗯𝘂𝗶𝗹𝘁 𝘁𝗵𝗲 𝘀𝗲𝗰𝗼𝗻𝗱 𝗼𝗻𝗲:


The text says:

▪️ The estimated closing date is 6/30/2017


Here's the formula:

▪️ ="The estimated closing date is "&TEXT(ClosingDate,"m/d/yyy")


The first part is in quotes:

▪️ "𝘛𝘩𝘦 𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦𝘥 𝘤𝘭𝘰𝘴𝘪𝘯𝘨 𝘥𝘢𝘵𝘦 𝘪𝘴 "


Then I use the & (ampersand) with the TEXT() function:

▪️ &𝘛𝘌𝘟𝘛(


Then, I reference a cell in my Excel workbook:

▪️ 𝘪𝘯 𝘵𝘩𝘪𝘴 𝘤𝘢𝘴𝘦 𝘐 𝘩𝘢𝘥 𝘯𝘢𝘮𝘦𝘥 𝘪𝘵 "𝘊𝘭𝘰𝘴𝘪𝘯𝘨𝘋𝘢𝘵𝘦"


Then, I specify the format

▪️ 𝘐 𝘥𝘪𝘥 "𝘮/𝘥/𝘺𝘺𝘺" 𝘧𝘰𝘳 𝘔𝘰𝘯𝘵𝘩, 𝘋𝘢𝘺, 𝘠𝘦𝘢𝘳


Once I hit Enter, it reads like a sentence.


"𝘛𝘩𝘦 𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦𝘥 𝘤𝘭𝘰𝘴𝘪𝘯𝘨 𝘥𝘢𝘵𝘦 𝘪𝘴 6/30/2017"


The best part?


Every time I update my Closing Date, the sentence updates automatically.


August 18 of 2024?


"𝘛𝘩𝘦 𝘦𝘴𝘵𝘪𝘮𝘢𝘵𝘦𝘥 𝘤𝘭𝘰𝘴𝘪𝘯𝘨 𝘥𝘢𝘵𝘦 𝘪𝘴 8/18/2024"


———


Instead of typing out everything manually,


I can give it a once-over and just hit print (or send).


Saves me a ton of time & reduces error.


Test it out — it's pretty cool!

———

About Me -- If you've never seen my stuff before, I'm Chris -- from skyscraper to Solopreneur -- I help middle market companies with M&A and FP&A.

I also teach Financial Modeling (like a human, not a textbook).

Here are the 3 best ways I can help you:

1. Learn the Basic 3 Statements in 45 minutes

2. Download my Advanced 3 Statement Template (great for FP&A pros)

3. Learn to model like a Private Equity pro

Until next time.

--Chris